Bitcoin ETFs’ year-to-date net outflows stood at around $510 million following Thursday’s closing bell.
Crypto analyst Michaël van de Poppe said on X Thursday that Bitcoin could find a near-term bottom Friday, potentially after dipping below $75,000, pointing to the severity of the Nasdaq’s decline. “I expect Nasdaq to bottom tomorrow
The same for Bitcoin, potentially after sweeping $75,000,” he wrote. Dean Lyulkin, CEO of Cardiff and founder of investment publication The Dean’s List, said the current market environment differs from the period leading up to the 2008 financial crisis. Related: Bitcoin crashes 6% to 7-week low as US stocks erase election gains “The global financial crisis wasn’t caused by Democrats taking Congress,” Lyulkin said in comments shared with Cointelegraph, noting that the Federal Reserve had already raised interest rates substantially and the housing market was weakening before the crisis.
While acknowledging vulnerabilities in commercial real estate, private credit and potentially excessive artificial intelligence spending, Lyulkin argued that household balance sheets and the banking system are considerably stronger today. Magazine: Wall Street killed Bitcoin’s wild rallies: 10x’s Markus Thielen